EU’s Gas Buyer’s Club Racks Up Demand Ahead of Next Winter
- Bloc’s storages nearly 80% full without extreme price spikes
- Sefcovic says platform a blueprint for buying key raw material
The European Union’s joint gas buyer’s club is attracting increasing demand as the region prepares for the new heating season, and should provide a blueprint for how the region will secure the raw materials needed for the green transition, according to Commission Vice President Maros Sefcovic.
The joint purchase facility — which emerged as an emergency measure during the energy crisis last year and matches companies looking to buy gas with international sellers — received demand for around 16 billion cubic meters for its second tender, Sefcovic said in an interview with Bloomberg Television. The EU had set a goal of aggregating enough demand to fill 15% of its gas storage sites across the bloc, equivalent to around 13.5 billion cubic meters.